Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST) Shares Down 8.3% – Should You Sell?

Direxion Daily Regional Banks Bull 3x Shares (NYSEARCA:DPST)’s share price traded down 8.3% during trading on Friday . The company traded as low as $83.05 and last traded at $82.73. 247,802 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,084,096 shares. The stock had previously closed at $90.24.

Direxion Daily Regional Banks Bull 3x Shares Trading Down 6.1 %

The company has a 50-day moving average price of $109.85 and a two-hundred day moving average price of $115.68. The stock has a market cap of $573.76 million, a P/E ratio of 11.58 and a beta of 2.95.

Direxion Daily Regional Banks Bull 3x Shares Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.4801 dividend. The ex-dividend date of this dividend is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily Regional Banks Bull 3x Shares

Large investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Direxion Daily Regional Banks Bull 3x Shares during the 4th quarter valued at $28,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Direxion Daily Regional Banks Bull 3x Shares during the third quarter worth $48,000. Anchor Investment Management LLC bought a new position in shares of Direxion Daily Regional Banks Bull 3x Shares in the fourth quarter worth about $55,000. Lindbrook Capital LLC bought a new position in shares of Direxion Daily Regional Banks Bull 3x Shares in the fourth quarter worth about $77,000. Finally, Two Sigma Securities LLC purchased a new position in Direxion Daily Regional Banks Bull 3x Shares in the 4th quarter worth about $218,000.

About Direxion Daily Regional Banks Bull 3x Shares

The Direxion Daily Regional Banks Bull 3X Shares (DPST) is an exchange-traded fund that is based on the S&P Regional Banks Select Industry index. The fund provides 3x leveraged exposure to an equally-weighted index of US regional banking stocks. DPST was launched on Aug 19, 2015 and is managed by Direxion.